A pair of director changes at Hong Kong-listed developers lead this week’s roundup of personnel moves from around Asia’s real estate world, with Shenzhen-based Kaisa and Hong Kong’s HKRI making senior-level changes. Also in the news is the passing of the former chairman of a Singapore builder and a board overhaul at a defaulting mainland developer.
Kaisa Group Holdings announced to the Hong Kong stock exchange on 13 September that Sun Yuenan has informed the board of his retirement from his roles as vice chairman and executive director of the company from the previous day. Now 61, Sun will continue to act as a senior advisor to the Shenzhen-based developer. In the same statement Kaisa announced that Luo Tingting, Song Wei and Liu Lihao had been appointed as executive directors from 12 September.
HKR International informed the HKEX on 13 September that Wilson Cheung Ho Koon has resigned from his role as an executive director with the company with effect from 20 September. Now 61, Cheung has served on HKRI’s board of directors since February 2021 and formerly deputy chairman of telecom provider PCCW after having previously served as chief executive of Hong Kong Telecom.
Cecil Wong, former chairman of Bukit Sembawang Estates, passed away on 11 September at the age of 101, according to local media reports. An accountant by training, Wong had joined the board of Bukit Sembawang in 1979 before being appointed chairman in 1991. He held the chairman role for two decades before stepping back from the leadership role in 2011. He continued to be involved in Singapore’s business community as an independent director of four different companies following his departure from Bukit Sembawang.
China South City Holdings on 9 September informed the Hong Kong stock exchange that its chief operating officer and executive director Geng Mei was resigning from the company with effect from that same day. The financially troubled builder said in the same announcement that Carman Cheng Ka Man (pictured) was also stepping down from her roles as executive director and authorised representative of the mainland developer.
The government of India’s Karnataka state on 12 September announced that it has appointed additional chief secretary of urban development Rakesh Singh as chairman of the Bangalore Development Authority (BDA). Singh joins the top planning authority for Bangalore at the same time that he has been appointed chairman of the Ramanagara Urban Development Authority in the nearby city. In 2021 Singh had been appointed managing director of the Bangalore Metro Rail Corporation Limited (BMRCL).
Hong Kong developer Grand Ming Group Holdings announced to the HKEX on 13 September that it has appointed Apple Chan Pui Yin to an executive director role on its board from 16 September. The daughter of Grand Ming chairman Chan Hung Ming is now 34 and is responsible for overseeing the company’s property development business. The younger Chan graduated from the University of Hong with bachelors and master’s degrees in architectural studies.
Harvest Fund Management informed the Shanghai stock exchange on 12 September that Lin Qibo has been appointed as an additional fund manager for Harvest Wumart Consumer REIT. Lin will serve alongside existing fund managers Zhang Wenjing, Wen Zhanya and Wei Shaoyi. Harvest Wumart Consumer REIT was listed on the Shanghai exchange in March this year as one of China’s first two listed shopping mall trusts.
The manager of Nomura Real Estate Master Fund announced to the Tokyo Stock Exchange on 12 September that Hiroshi Ishigooka has promoted to director and managing executive officer in charge for its corporate planning department, from his current role as general manager with the same division. Ishigooka continues to serve as director and managing executive officer in charge of the company’s legal and compliance department and internal audit departments.
If you know of other Asia real estate professionals changing their jobs, getting promoted or just doing something exciting, please contact us here at Mingtiandi.
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